Building Details

Year Built 1964

Listing Agency: United Apartment Group

Listed By: Theodore Booras · License #01147469 Show Phone

Source: Exitrealty

Added: Apr 1 Changed: Sep 2 Last Checked: Sep 15 at 5:21AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Apartment Group

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Investment Insights

Based on property information with market context.

This fourplex contains four two-bedroom, one-bath apartments, each measuring approximately 828 SF, for a total property size of 3,312 SF. The building dates to 1964 and includes on-site coin-operated laundry with owned equipment, carport parking, new windows, and a new roof. The property needs some TLC, providing a clear physical improvement component.

Views extend toward Carquinez Bay and the Martinez Valley, with downtown Martinez also visible. The property is within one block of Rankin Swim Center and Park and is near downtown Martinez.

Key Highlights

• Four two‑bedroom, one‑bath apartments at approximately 828 SF each
• 3,312 SF property built in 1964
• On‑site coin‑operated laundry with owned equipment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,704

Cap Rate

5.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,134,080 $1.1M

Cap Rate 7%

$810,057 $810.1K

Cap Rate 9%

$630,044 $630.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,312 SF

Gross rent

$85.4K $25.80/SF

− Vacancy

−$4.4K −$1.34/SF

EGI

$81.0K $24.46/SF

− OpEx

−$24.3K −$7.34/SF

NOI

$56.7K $17.12/SF

Area

Contra Costa County, CA

Vacancy

5.20%

Lease Rate

$25.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,134,080

Cap Rate 7%

$810,057

Cap Rate 9%

$630,044

Alternative Uses

Best Use

Multifamily LT 5

$810.1K

$708.8K – $945.1K (±1% cap)

NOI $56,704 @ 7.0% cap · market cap 5.04%

Second Best

Apartment 5plus

$752.1K

$658.1K – $877.5K (±1% cap)

NOI $52,649 @ 7.0% cap · market cap 4.68%

Theoretical Best

Office A

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,636 @ 7.0% cap · market cap 7.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Plumbing Service Big Box & Wholesale Store Pharmacy (Bike/Boat/Book/etc) Store Barber Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,032

Businesses Nearby

Explore this area Business Placement

Demographics for 94553, CA

49,756

Population

19,626

Households

2.5

Avg Household Size

42

Median Age

42%

College-Educated

94%

High-School Grad

61.6 sq mi

ZIP Area

808

Density / Sq Mi

$121,023

Median Household Income

$70,337

Median Earnings

$2,247

Median Rent

$781,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four two-bedroom apartments feature coin-operated laundry, carport parking, new windows, and a new roof.

Where is this quadplex located?

The property is located at 40 Foster St Martinez, CA.

What is the asking price?

The asking price for this property is $1,125,000.

What are key features of this property?

This property features: Four two‑bedroom, one‑bath apartments at approximately 828 SF each; 3,312 SF property built in 1964; On‑site coin‑operated laundry with owned equipment